"We've always been clear that we are open to any opportunity that will help us scale our mission," a GoPro spokesperson told Benzinga in an emailed statment. "JP Morgan is our banker, but there is no active engagement to sell. It is our responsibility to scale the business, so if the right opportunity presented itself, it's something we would consider."

It's worth noting that Canon Inc (ADR) (NYSE: CAJ) was reported Friday to be pursuing $3.53 billion in acquisitions over the next three years.

"If there are opportunities for us to scale awareness of GoPro globally by being part of a bigger company, that’s something that we would entertain," CEO Nick Woodman told CNBC Monday morning.

Woodman confirmed GoPro would remain independent in the case of a sale or partnership.

GoPro’s potential sale inspired a mid-day rally in the stock, which plunged earlier on preliminary fourth-quarter figures. GoPro missed sales by 28.3 percent, cut 2018 guidance and announced a workforce reduction of more than 20 percent.

Woodman cited soft sales for Hero5 Black as the primary pain point but noted that pricing slashes improved business. “There’s significant demand for GoPro at the right price,” Woodman said.

Ambarella Inc (NASDAQ: AMBA) seemed to have fallen about 3 percent in sympathy but soon rebounded.